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Revisiting our Assumptions About Digital Financial Inclusion: Three Unexpected Findings from BFA’s FIBR Project
When BFA launched its FIBR (Financial Inclusion on Business Runways) R&D project four years ago, it outlined a set of assumptions about how smartphones, increased connectivity and digitization would help to accelerate financial inclusion for small businesses in Africa. As the project wraps up, BFA Founder and Chair David Porteous explores which of those assumptions still hold – and which need to be reassessed as unanticipated developments have reshaped the market.
- Categories
- Finance
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Online Banking Still a Reserve for the Rich in Kenya – Survey
People in higher income brackets use their phones to obtain more information on products and services before purchase, and across all income brackets, users regularly keep track of their online fund balances.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Rwanda Is the Latest African Country Considering a National Digital Currency to Boost Financial Inclusion
Rwanda is the second African country to show an interest in a digital currency this year. Earlier in 2019, South Africa’s central bank announced that it was doing a feasibility project.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Viewpoint: Nigeria’s Banks Stand to Gain More From Mobile Money Than MTN
MTN Nigeria, which runs the country’s biggest mobile phone network, won a license from the country’s central bank in July to provide financial services. But replicating the success of MTN’s mobile money offer in east Africa will be a big ask.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital finance, fintech
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Press Release: Steward Bank and Youtap Launch Mobile Money Services in Zimbabwe
The new service provided by Steward bank will allow customers to use e-money to pay at the point of sale and for selected transport services.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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India’s Mobile Payments Firm MobiKwik Reaches Rare Key Profit Milestone
The 10-year-old Gurgaon-headquartered firm said Tuesday it is now generating a profit excluding interest, taxes, depreciation and amortization.
- Categories
- Finance
- Region
- South Asia
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Goldman Sachs, Point72 and Others Invest $42 Million in Mexico’s Credijusto
Mexico has experienced a steady rise in startups aiming to use technology and mobile phones to sell financial services to poor and middle-class customers who do not use traditional banks.
- Categories
- Finance, Technology
- Region
- Latin America
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Xiaomi Banks on Phone Data for Finance Play in India
The stakes are high for the world’s fourth largest mobile phone vendor, whose business model relies on low-margin hardware sales with services as a key long-term profit centre.
- Categories
- Finance, Technology
- Region
- South Asia
- Tags
- digital finance
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